Connecticut western news., 1887-04-13
JOHN DUETS MILLIONS,
How They Disappeared after He
 Took Them Into Wall Street.

There is no railroad man in this country and probably not in any other, for that mat ter, who is not familiar with the name of John Duff, who obtained the original grant from the United States government for the construc- ton of the Union Pacific Railroad. He reaped many millions of dollars from the gi- gantic enterprise, a few millions of which were inherited by his son John R. Duff, of Boston. Imbued like his father with an enterprising spirit he thought he would take short cut to increasing his already large fortune, and so he embarked in ventures in Wall street.
 Nearly ten years ago, having selected as his brokers Kennedy, Hutchinson & Co.,, of New York, he gave them carte blanche to pu chase stocks on his account. Of course these pur- chases could not be made without collateral. Mir. Duff was well supplied with this impor- tant auxiliary and, according to his own story, he always put up what ever margins were re- quired. But whatever stocks his brokers might buy and whatever daring they might display in pushing their speculations Mir. Duff, notwithstanding occasional large profits, found his e1chequer slowly but surely growing less.
 For over five years these speculations con- tinued. In all this time, he says, he could not obtain from his brokers satisfactory ac- counting. The result was that he brought suit in the Supreme Court to recover what he claims is now due him. There was lengthy contest in an effort to obtain access to the bro kers' books. This was fought all the way up to the Court of Appeals, which tribunal direct ed a trial to be held in Special Term, and in accordance with this order the trial has been begun.
 In his complaint Mir. Duff talks of millions with an off hand indifference that would put to the blush even the inimitable Colonel Sel- lers. He begins by specifying the time he commenced his Wall street speculations and | describing the general character of the busi- ness transacted by Kennedy, Hutchinson x Co. on his account. Then comes his declara- tion as to the amounts invoved:-''That dur ing the said period, and in the transaction of said business, the defendants purchased and sold for the plaintiff in the New York Stock | Exchange in different amounts and oQ differ | ent occasions bonds and stocks amo uniting in | the aggregate to several hundreds of millions of dollars" He adds that in order to enable | several millions of dollars collateral secur- I lty. On December 31, 1881, according to | the defendants showing, he owed them on one account S67S, ,026.43, and on another s3so, ,69o, making total of s1,o5s,- | 716.43. Against this there were to his credit sundry securities. He charges that this ac- count is not ''just, true and accurate" and says that instead of his being indebted to the defendants they are largely indebted to him. | He alleges that the result given was reached by false and fraudu ent charges, by pretended sales of stocks which never were sold and by | pretended purchases of stocks which were never purchased. He asked for an accounting, and demands that it be adjudged to be limited and confined to specific subjects of contro- versy outside of a release bearing date March 8, 1882, and that as to other matters such re- lease be adjudged of no effect.
 The answer denies the charge of fraud, sets up the release referred to in the com pfaint and claims that thorough and accurate accounting has been given of all the transac- tions between the parties, showing an indebt-
 edness to the firm by the plaintiff. In MT. Duff's examination he was asked how much
 money he had put into the hands of his bro-
 kers, and replied: "1wo million dollars. 1 When questioned as to the amount he had re.
 ceiyed, he answered: ''Not cent"